Standard Motor Products, Inc. (NYSE:SMP) Plans Quarterly Dividend of $0.33

Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Tuesday, August 4th. Stockholders of record on Friday, August 14th will be given a dividend of 0.33 per share by the auto parts company on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 14th.

Standard Motor Products has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Standard Motor Products has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Standard Motor Products to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.7%.

Standard Motor Products Stock Up 6.0%

Standard Motor Products stock opened at $41.12 on Wednesday. The stock’s 50 day moving average price is $38.86 and its 200 day moving average price is $38.86. Standard Motor Products has a 1-year low of $31.58 and a 1-year high of $46.00. The company has a market cap of $915.42 million, a PE ratio of 20.16 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.23 and a quick ratio of 0.78.

Standard Motor Products (NYSE:SMP) last released its earnings results on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. The company had revenue of $526.72 million during the quarter, compared to the consensus estimate of $511.68 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%.During the same quarter last year, the company earned $1.13 earnings per share. On average, sell-side analysts predict that Standard Motor Products will post 4.4 EPS for the current fiscal year.

Analyst Ratings Changes

SMP has been the subject of several recent analyst reports. Zacks Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.00.

About Standard Motor Products

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.